TCEHY fell and coming close to any uptrend line at 48.50. RSI has remained flush at 51% before and held. Support come in at 44.88 S2. News that Tencent will buy 10% of Spotify if and when it goes on the market.
Good news has helped the CAD bounced off a double bottom today. Next upside target R3 at .79500. Possible bearish Shark pattern developing. USD still creating massive Head and Shoulders which if it comes, will help fuel CAD to Shark completion. CAD fell from H&S last month, then went into a three drives pattern and double bottom yesterday. CAD also crossed the 20...
March Oats seems to be trying to build out a Head and Shoulders pattern. Pivot right now has become support for a possible up move for last shoulder. Upside target 278'4. There is also a Bullish Gartely here unless Oats drastically collapses.
January Soybean Meal creating a head and shoulders and bearish Cypher pattern. Waiting for break through 311.8 for confirmation. There is also a bearish flag further suggesting a fall. First downside target 306.9 at S2. Market below the 20 day moving average and on the bottom side of RSI as it trends horizontally.
Feb Hogs may be setting up for a bullish butterfly. Hogs fell off a bearish flag today. Next downside target for bears is breaking S1 at at 67.150 and running at 65.200 S2. Index is now at 67 and we should see fall to 66.5 tomorrow at the rate the index has been falling for the last week. There is a big support area down at 64 which traces back to August 2 and...
Feb Live Cattle could be forming two things. 1. massive H&S or 2. Bullish Bat / Gartely pattern. LC fell off of a bearish flag on Friday and moved lower today. Next dowside target is to break support at 122.250, then S1 at 120.325. RSI still has room to move down before hitting potential support line at 38.
Jan Soybean maybe turning back up off new pivot point. Target R1 at 1006. Gartley pattern still holding. Once harvest is in, may see market strengthening.
Jan Milk III is nearing the Support 3 line and closing in on oversold RSI. Milk is very bearish right now. USDA put milk trading around 16.18 to 15. Well it went below that. The next USDA numbers on Milk is November 20, 2017 3:00 PM. Right now Milk is trading in a band and could be coming to a final three drives pattern.
Feb lean hogs produced a bullish flag and the hog index has risen steadily over the last two weeks. Projecting prices to move to 72.600 creating a bearish butterfly. Market has gone out of the pivot point projections for Fibonacci. As long as the index continues going up, this price projection will rise. Dec Hog index now at 68.28. Pork production is high, but so...
FC today is setting up a bearish flag. Downside target would be pivot at 148.400. Watching to see if end of market still shows flag. There is also a potential HS here.
December Hogs maybe ending a bearish Bat pattern and setting up for another bullish Bat. Today it created a long legged doji from 3 drives pattern. 64.075 becomes resistance. If broken more upside would ensue but I don't predict much higher as R3s are pretty rare air in this next pivot session. At the moment need confirmation of direction. RSI is beginning to tap out.
December Live Cattle fell off a Bearish Cypher. Next setup may be a bullish Butterfly or Bat. Next downside target is pivot at 110.825. Long term may be 104.800. Swings keep getting lower each time so long term for now is bearish channel.
December Canadian Dollar may be in a long term head and shoulders. The last two pivot structures used S1 as a support area. This may continue out until November where we might see a fall to .76275
December Lean Hog maybe moving into a 3 drives pattern. RSI trend is up and hasn't been broken. Hog index is now at 60.92. We may see sideways trading now until a definite direction is decided. Watching for trendlines to fail top or bottom. New pivots will be formed middle of next week producing a small range of resistance and support.
Feb Hogs looks like it is creating a bearish Bat. RSI is nearing top level of previous climb. Thursday's downside held at 20 day MA and now we are above that. Next upside target for Hogs is 67.15 at R1, then 68 at Bat with a possible run at triple top at 68.875. Pivots should remain similar for this next round. Volume bars are low so this could be a nice run. Hog...
Dec Palladium creating a bearish flag. Possible pattern bullish Gartley. Downside target S1 at 880.80. Palladium is also under the 20 day moving average and now using it as resistance. Until a break and hold back across the 20 day, this is bearish. Overall this market continues to trend up.
November Soybean is following an uptrend. Although today was bearish and probably the next two days next week, we should see another round of buying. Soybeans got hit on the USDA report so not too sure how high this will go. This may be a simple three drives pattern and double top rejection. R1 becomes resistance. Trendline becomes support. Next downside target is...
Milk bottomed out last week and looked today like it was going to explode up but was met with more selling. Still remains as a higher low. We might see some sideways trading to end of week. Next pattern could be a Bearish Gartely. October Milk is in the same condition.